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Cleveland-Cliffs Eyes Move Into Electrical Transformer Manufacturing
06/17/2024 - Cleveland-Cliffs Inc. is looking to recast its idled West Virginia tinplate mill as a factory producing transformers for electrical utilities, chairman and chief executive officer Lourenco Goncalves said Monday.
"We're going downstream," Goncalves said, speaking during the Global Steel Dynamics Forum.
Goncalves said the effort is underway to replace jobs that were lost when the Weirton, W.Va., USA, facility was closed. The company idled the mill this spring after the U.S. International Trade Commission rejected new duties on imported tinplate.
Goncalves said the lead time on a new transformer currently is around 37 weeks, and the company sees an opportunity to move into the business using its own electrical steel.
The Global Steel Dynamics Forum is taking place today and Tuesday in New York City. Check back with AIST Steel News for updates.
